Gold Price Today: Gold Rises 0.7% to $4,025 as Buyers Step In Near $3,980 Again
Gold dipped toward $3,978 as Asian markets opened Sunday night, the third test of that zone in four sessions, and buyers pushed it back above $4,000 within two hours. Spot gold is up 0.7% from Friday’s close and silver 0.7%. Oil fell after weekend talk of an Iran deal, but the odds of a Fed hike in December rose to about 79%. Here’s what moved and what comes next in a week with a Fed decision on Wednesday.
For general information only, not investment advice. Ausecure is a precious-metals dealer and sells the products discussed.
This pre-market note uses spot prices as of 8:34 AM ET on Oct 26, 2026. For how gold finished last week, read Friday’s market close note.
The short version
- Gold price today: spot gold is $4,025.41 an ounce at 8:34 AM ET, up $29.60 (0.74%) from Friday’s 5:00 PM ET close of $3,995.81. It is still down $140 (3.4%) from the Oct 16 close.
- The overnight dip: gold reopened Sunday at about $3,998 and fell to $3,978.18 between 8:00 and 9:15 PM ET, as Tokyo and Shanghai opened, on up to four times normal volume. That held above Friday’s low of $3,975.65. Every 15-minute close since 11:00 PM ET has been above $4,000.
- Silver price today: spot silver is $54.25, up $0.36 (0.66%). It followed gold down to $53.62 and back up. The gold/silver ratio is 74.2.
- Oil: U.S. crude is down 2.2% at about $101 and Brent about 1.5% lower near $110, after weekend reports of Qatari mediation with Iran. Headlines saying Brent fell more than 6% compare two different futures contracts.
- Fed: fed funds futures put the odds of a rate hike at the Oct 28 meeting at about 8%, unchanged from Friday’s close, and the odds of a hike at the Dec 9 meeting at about 79%, up from about 74%.
- Data: no U.S. economic data before the open. The Dallas Fed’s factory survey is due at 10:30 AM ET.
Why is gold up today?
Gold rose because buyers defended the same price zone for the third time since Thursday, then came back twice more overnight. The dollar did not help: it is up 0.10% since Friday.
- A third test of $3,975 to $3,985, at the Asian open. From 8:00 PM ET Sunday, as Tokyo and then Shanghai opened, gold slid from about $3,998 to $3,978.18. Volume in the 9:00 PM ET bar was about four times normal. In the same minutes the dollar index slipped and the 10-year Treasury yield fell, which usually helps gold, so this was selling in gold itself. It is the same pattern as Thursday night and Friday morning, when gold dropped to $3,986.73 and $3,975.65. Each time, buyers stepped in within 15 to 30 minutes. This time the low was higher than Friday’s.
- Buying late in the Asian morning. Between 10:45 and 11:30 PM ET, gold rose $22 to $4,016.69 on volume up to 1.7 times normal, while the dollar, yields and oil were flat. We found no news item that lines up with it.
- More buying at the London open. From 4:00 to 5:00 AM ET, as London opened, gold rose from about $4,010 to $4,022, even as the dollar and the 10-year yield edged up, and it reached $4,025.42 by 8:30 AM ET as the 10-year yield eased.
Stock futures are higher this morning: S&P 500 futures were up 0.42% and Nasdaq 100 futures 0.70% at 8:23 AM ET, and the VIX, Wall Street’s fear gauge, was 19.1. That calm backdrop took some pressure off after Friday’s stop-driven drop.
Data overnight: no high-impact releases in the U.S., Europe or Asia. Germany’s ifo business survey and the UK’s CBI retail survey were the only scheduled reports, both minor.
Gold spot (XAU/USD), past two weeks
Iran talks and oil: did gold react?
- Mediation (Sunday): Qatari mediators reportedly travelled to Tehran on Sunday, coordinating with Washington, and senior officials from Saudi Arabia, Pakistan and Turkey were due in Tehran today for regional security talks, Euronews and Reuters reported. President Trump told Fox News he was weighing whether to “make a deal” with Iran.
- Houthi attacks (weekend): the Houthis said they struck Saudi Arabia again, and Riyadh said it shot down more missiles and drones.
- Oil’s reaction: oil repriced lower as soon as trading reopened at 6:00 PM ET Sunday. U.S. crude opened at $101.80 against Friday’s close of $103.27 and is near $101 now. Brent for January delivery is about 1.5% lower near $110. Brent’s December contract, which expires this week, was quoted at $114.82 this morning, down 1.6%, Reuters reported. That is why some headlines show a drop of more than 6%: they compare Friday’s December price with today’s January price.
- Gold’s reaction: none at the reopen. Gold opened about $2 above Friday’s close while oil fell, and its two rises overnight came when oil was flat.
Lower oil has not lowered rate expectations either. Futures now put a December rate hike at about 79%, up from about 74% on Friday, and the 2-year Treasury yield is up about 0.02 point. Gold rose despite that.
How much was the dollar?
Very little. The U.S. Dollar Index is 101.85, up 0.10% since Friday afternoon. Measured over the night, the dollar explains none of gold’s gain. Over the past two weeks gold is down about 3.4% and the dollar about 0.6%.
The 10-year Treasury yield is 4.99% and the 30-year is 5.31%, both down about 0.01 to 0.02 point since Friday afternoon, while the 2-year rose to 4.70%. Treasury’s Friday figures had the 10-year at 5.00% and the 30-year at 5.33%. Mortgage rates eased in the latest survey: the average 30-year fixed rate was 7.32% in Freddie Mac’s weekly survey (Oct 22), down 0.08 point from a week earlier, and the 15-year was 6.68%.
Gold vs. the U.S. dollar, % change over two weeks
Bid and ask for gold, silver, platinum and palladium, updated as the market moves. Every order is priced off the live market and confirmed when you place it.
Silver price today: up 0.7% with gold
Spot silver is $54.25, up $0.36 from Friday’s close of $53.90. It moved with gold overnight: down to $53.62 at 9:45 PM ET as Asian markets opened, then up to $54.42 during gold’s late-evening rise. It has held above $54 since 7:45 AM ET. Silver is still 4.8% below its Oct 16 close of $56.97.
The gold/silver ratio (how many ounces of silver one ounce of gold buys) is 74.2, little changed from 74.1 at Friday’s close and near the top of its range since late September. Silver kept pace with gold overnight; last week it fell faster, 5.4% against gold’s 4.1% on spot.
Gold/silver ratio, past two weeks
Gold and silver price levels we’re watching
| Level | Gold | Silver | Why it matters |
|---|---|---|---|
| Round number above | $4,050 | $55.00 | Neither metal has traded there since Thursday midday. A move through it would be the first sign the week’s drop is over |
| Friday’s high | $4,034.09 | $54.75 | Gold’s Friday high came at 9:15 AM ET; silver’s matching high was Thursday evening’s $54.75. Neither has been tested overnight |
| Overnight high | $4,025.42 | $54.42 | Gold made it at 8:30 AM ET, silver at 11:15 PM ET Sunday |
| Round number | $4,000 | $54.00 | Every 15-minute gold close since 11:00 PM ET has been above $4,000. Silver is back above $54 since 7:45 AM ET |
| Overnight low | $3,978.18 | $53.62 | Made as Asian markets opened Sunday night. A higher low for gold than Friday’s |
| Friday’s low | $3,975.65 | $53.03 | The bottom of the zone that has stopped three sell-offs since Thursday. Not tested overnight |
Gold’s overnight range was about $47, smaller than the typical day of about $58 over the past 29 sessions.
Trend check: on our monthly trend model, both metals are in a correction: their 12-month trend, after cash returns, is still up and September was a down month (readings as of Sep 30). Since 2002, gold has risen in the month after a correction month about 60% of the time; that is history, not a forecast. With five trading days left in October, gold’s live reading is weaker: if the month ended at this level, the model would read bear for gold, and gold futures would need to rise about 6.6% by Oct 30 to avoid that. Silver’s live reading is still a correction.
What the Fed is expected to do
Fed funds futures imply about 8% odds (roughly 1 in 13) that the Fed raises rates by a quarter point at its October 27–28 meeting, and about 92% that it holds at 3.75%–4.00%, as of 8:27 AM ET, unchanged from Friday’s close. For the December 9 meeting, futures price a quarter-point hike at about 79%, up from about 74% at Friday’s close, and the odds of at least one hike by then at about 81%, up from about 76%. The December figure is sensitive: the whole rise since Friday came from a 0.01 change in the price of December fed funds futures.
The 10-year TIPS yield, a common measure of real interest rates, was 2.66% at Friday’s close, up 0.02 percentage point on the day and down 0.08 from a week earlier, according to the U.S. Treasury. The Fed is in its quiet period before the meeting; no Fed officials have spoken since Friday and none are scheduled today. The decision is due Wednesday, Oct 28, at 2:00 PM ET, with the press conference at 2:30 PM ET. Thursday’s inflation data matter too: the World Gold Council’s weekly markets monitor, published this morning, said the PCE inflation print is “expected to accelerate to 3.6% y/y”.
Economic calendar: what’s next for gold
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Latest weekly emailSent Sunday, Oct 25This weekAusecure closing ask
| Day | Gold | Change | Silver | Silver change |
|---|---|---|---|---|
| MonOct 26 · today | $4,021.20 | +0.5% | $54.10 | +0.1% |
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What today’s move means if you buy physical gold or silver
Gold is back above $4,000 after another quick dip, and silver is moving with it. Both are well below where they were two weeks ago, and a Fed decision comes on Wednesday. Our own ask at 8:50 AM ET was $4,024.70 for gold and $54.22 for silver. A few practical points:
- Your price is confirmed when you order. Our prices follow the live market, and gold moved about $47 between its overnight low and this morning’s high. The price you lock in is the one on screen when you place the order.
- Compare the premium over spot. Most products on our site show their “% over spot” under the price, so you can compare a coin with a bar on equal terms.
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Silver spot (XAG/USD), past two weeks
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Frequently asked questions
What is the gold price today?
Spot gold was $4,025.41 an ounce at 8:34 AM ET on Oct 26, 2026, up $29.60 (0.74%) from Friday’s 5:00 PM ET close of $3,995.81. Overnight it traded between $3,978.18 and $4,025.42. For the current bid and ask, see our live metal prices page.
Why is gold up this morning?
Gold dipped to $3,978.18 as Asian markets opened Sunday night, on about four times normal volume, and buyers stepped in above Friday’s low of $3,975.65 for the third time in four sessions. It then rose in two bursts, late Sunday evening and at the London open, with the dollar flat. Weekend Iran talks lowered oil, but gold did not move when oil did.
Did oil really fall 6%?
No. U.S. crude is down about 2.2% and Brent about 1.5% on the same contracts. The 6% figure compares Friday’s price for December Brent, which expires this week, with today’s price for January Brent, which trades about $5 lower.
What are the odds of a Fed rate hike this week and in December?
As of 8:27 AM ET, fed funds futures put the odds of a quarter-point hike on Oct 28 at about 8%, unchanged from Friday’s close, and at the Dec 9 meeting at about 79%, up from about 74%. Lower oil prices over the weekend did not reduce them.
Is gold near $4,000 a good time to buy?
We don’t give investment advice, and no one can reliably call short-term lows. Gold has bounced off the $3,975 to $3,985 area three times since Thursday, but it is still $140 below its Oct 16 close, and a Fed decision on Wednesday could move it either way. Some buyers wait for prices to settle; others buy a fixed amount on a schedule so they don’t have to time the market, which our Auto-Buy program does automatically. Whatever you choose, compare the premium over spot and buy from a dealer that confirms your price when you order.
This note is general market commentary from the Ausecure trading desk, based on data available at 8:34 AM ET on Oct 26, 2026. It is for informational purposes only and is not investment, tax or financial advice, or a recommendation to buy or sell any product. Ausecure is a dealer in physical precious metals and earns revenue from the products discussed. Precious-metal prices can go down as well as up, and past performance does not guarantee future results. Consider your own circumstances, and speak with a qualified adviser if you need one, before you buy.
Sources: OANDA spot gold and silver, TVC dollar index and Treasury yields, via TradingView; CBOT 30-day fed funds futures (Ausecure calculation); U.S. Treasury (daily yield curves); Freddie Mac (Primary Mortgage Market Survey); NYMEX and ICE crude oil futures via Yahoo Finance (delayed); Euronews (Iran mediation, Houthi attacks, Trump interview); Reuters (Tehran talks; December Brent quote, via The Globe and Mail); Ausecure live prices (ask); index data via Yahoo Finance (delayed); World Gold Council (Weekly Markets Monitor, Oct 26, 2026); Federal Reserve Board calendar; Forex Factory economic calendar; Ausecure monthly trend model (COMEX front-month futures and T-bill rates via Yahoo Finance).
How this note is made: drafted with automated tools from Ausecure’s own prices and the market data listed above, then checked and approved by Ausecure before it was published.
